Thrivent Financial for Lutherans Acquires 6,587 Shares of Costco Wholesale Co. (NASDAQ:COST)

Thrivent Financial for Lutherans raised its holdings in Costco Wholesale Co. (NASDAQ:COST) by 11.3% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 64,820 shares of the retailer’s stock after acquiring an additional 6,587 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Costco Wholesale were worth $55,096,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently bought and sold shares of the business. Garden State Investment Advisory Services LLC grew its position in Costco Wholesale by 7.2% in the 2nd quarter. Garden State Investment Advisory Services LLC now owns 1,393 shares of the retailer’s stock valued at $1,189,000 after acquiring an additional 93 shares during the last quarter. Pacer Advisors Inc. lifted its holdings in shares of Costco Wholesale by 7.2% in the 2nd quarter. Pacer Advisors Inc. now owns 68,324 shares of the retailer’s stock worth $58,075,000 after buying an additional 4,577 shares during the period. Ranch Capital Advisors Inc. lifted its holdings in shares of Costco Wholesale by 7.2% in the 2nd quarter. Ranch Capital Advisors Inc. now owns 835 shares of the retailer’s stock worth $710,000 after buying an additional 56 shares during the period. AE Wealth Management LLC lifted its holdings in shares of Costco Wholesale by 25.6% in the 2nd quarter. AE Wealth Management LLC now owns 22,102 shares of the retailer’s stock worth $18,786,000 after buying an additional 4,505 shares during the period. Finally, King Luther Capital Management Corp lifted its holdings in shares of Costco Wholesale by 24.3% in the 2nd quarter. King Luther Capital Management Corp now owns 39,406 shares of the retailer’s stock worth $33,495,000 after buying an additional 7,704 shares during the period. Institutional investors own 68.48% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on COST shares. Gordon Haskett upgraded Costco Wholesale from an “accumulate” rating to a “buy” rating and set a $925.00 target price for the company in a report on Thursday, August 8th. Bank of America upped their target price on Costco Wholesale from $874.00 to $962.00 and gave the stock a “buy” rating in a report on Thursday, July 11th. Stifel Nicolaus upped their price objective on Costco Wholesale from $910.00 to $915.00 and gave the stock a “buy” rating in a research note on Friday, September 6th. Robert W. Baird upped their price objective on Costco Wholesale from $850.00 to $975.00 and gave the stock an “outperform” rating in a research note on Thursday, July 11th. Finally, Tigress Financial upped their price objective on Costco Wholesale from $870.00 to $975.00 and gave the stock a “buy” rating in a research note on Tuesday, June 25th. Seven equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $853.92.

Insider Activity

In related news, Director Kenneth D. Denman sold 350 shares of the firm’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $851.53, for a total transaction of $298,035.50. Following the sale, the director now directly owns 5,920 shares of the company’s stock, valued at $5,041,057.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, Director Kenneth D. Denman sold 350 shares of the firm’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $851.53, for a total transaction of $298,035.50. Following the sale, the director now directly owns 5,920 shares of the company’s stock, valued at $5,041,057.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Daniel M. Hines sold 1,500 shares of the firm’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $848.53, for a total value of $1,272,795.00. Following the sale, the insider now directly owns 10,992 shares in the company, valued at $9,327,041.76. The disclosure for this sale can be found here. Over the last three months, insiders have sold 4,974 shares of company stock valued at $4,252,856. Company insiders own 0.18% of the company’s stock.

Costco Wholesale Stock Up 0.7 %

Shares of COST stock opened at $906.98 on Monday. The stock’s 50-day simple moving average is $864.85 and its 200-day simple moving average is $811.52. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.45 and a current ratio of 0.94. The firm has a market capitalization of $402.10 billion, a PE ratio of 56.19, a P/E/G ratio of 5.51 and a beta of 0.80. Costco Wholesale Co. has a fifty-two week low of $540.23 and a fifty-two week high of $923.83.

Costco Wholesale Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 9th. Stockholders of record on Friday, July 26th were issued a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a dividend yield of 0.51%. The ex-dividend date was Friday, July 26th. Costco Wholesale’s dividend payout ratio is presently 28.75%.

Costco Wholesale Company Profile

Costco Wholesale Corporation, together with its subsidiaries, engages in the operation of membership warehouses in the United States, Puerto Rico, Canada, Mexico, Japan, the United Kingdom, Korea, Australia, Taiwan, China, Spain, France, Iceland, New Zealand, and Sweden. The company offers branded and private-label products in a range of merchandise categories.